[The following information applies to the questions displayed below.] Nelson Company experienced the following transactions during Year 1, its first year in operation.1) Acquired $12,000 cash by issuing common stock 2) Provided $4,600 of services on account 3) Paid $3,200 cash for operating expenses 4) Collected $3,800 of cash from customers in partial settlement of its accounts receivable 5) Paid a $200 cash dividend to stockholders What is the amount of total assets that will be reported on the balance sheet as of December 31, Year 1?
A. $13,400
B. $13,200
C. $12,400
D. $12,600
Answer: B
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